Senator Elizabeth Warren and crypto lawyer John Deaton exchanged blows over crypto policy in their first debate of the race for a seat as a United States senator from Massachusetts.
Deaton, a Republican candidate, called out Democrat rival and incumbent Warren during the Oct. 15 debate for focusing on building an “anti-crypto army” instead of prioritizing other issues impacting the lower and middle class in the state.
“With illegal immigration bankrupting the state, with inflation pricing regular people out of the economy [...] why did this senator wake up one day and say with all that, I will build an anti-crypto army,” Deaton said.
Warren (left) and Deaton in their first debate. Source: CBS Boston
Warren claimed she’s “fine” with people who want to buy and sell crypto but want to ensure the industry “follows the same rules” as banks and stockbrokers — namely consumer protection and counter-terrorism laws.
The senator also claimed that crypto is often used by terrorists, drug traffickers and rogue notions to finance their illicit activities.
Warren and Deaton agreed that traditional banking has failed many Americans.
Still, Deaton said banking access hasn’t been a priority for Warren — pointing to a December Senate Banking Committee hearing where Warren spoke to JPMorgan CEO Jamie Dimon and focused her questioning on crypto crime rather than banking failures.
“She had the CEO of JPMorgan Chase available for questioning and they finance the largest child sex trafficking operation in history with Jeffrey Epstein and Senator Warren didn’t ask a single question.”
Warren hit back, saying that 90% of the funds supporting Deation’s campaign to unseat her came from the crypto industry and they’d expect a “return on investment” should he make the Senate.
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Deaton didn’t directly respond to that claim but said he often upsets the crypto industry with controversial takes and has beefs with many “crypto billionaires.”
Warren is defined by party. Notice its Democrats are great, Republicans are bad.
— Chip – onthechain.io (@stephenchip) October 16, 2024
I got news for you Senator. All of you suck in Congress. All of you!
— John Deaton (@JohnEDeaton1) pic.twitter.com/qpcjFVIFVk
The faceoff with Warren came after Deaton won the Republican nomination in the Massachusetts primary election on Sept. 4.
Warren has a 22.5% lead on Deaton based on six polls, The Hill’s 2024 Elections data shows.
Deaton is bidding to break an 11-year streak during which Democrats have controlled both Massachusetts seats in the US Senate.
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